Cyprus-Forum.com

[matthew1981]

when are you moving out to Cyprus? I am looking at a bar in Paphos, it hs all year trade which is unusual as most only open during the summer season.

What are you looking to invest?

[paul1978]

have you seen the bar?
is it on any website?
does it look profitable? baring in mind the big chunk the CTO take (although ways around it)
is it freehold or lease hold? if lease what is left on the lease?
how much is the rent? what is cost of bar? how is it being ran now? theme bar/latenight bar family bar etc etc?
investment depdends on the above factors and if you are wanting to go 50/50
cheers paul.

[matthew1981]

CTO?

[matthew1981]

Paul,

Answers to your questions:

-I have seen the bar and it is in the main nightlife street of Paphos
-it is a sports theme bar that attracts a mixture during the summer and locals and sports enthusiasts during the winter months
- it is leasehold and the lease can be negotiated for another 20 years at 900 CYP per month
- it meets all new regulations
-only does wet sales at present but has a licence for food
- I have seen the last 3 years accounts, all prepared by an accountant and they show turnover of 225,000CYP per year and a VERY healthy margin.
- they are open currently from 11am – 3am.
- owners selling due to ill health
- for sale for 220,000 CYP

Hope this give you an insight.

Cheers

[paul1978]

cyprus tourist org

[matthew1981]

cant see why they would take it? is there something i am missing?

[ukman]

i have got some fresh air for sale .i will sell it to you at £40.a ton .you can sell it to the balloon man for £200 .there aint a bar there worth £2 plus xxxs .are there still stupid people out there .no offence but i cant beleave what i just read .put your money on a 3 leged horse .you would have more chance of a return on your money.ill health is what you would get

[matthew1981]

ukman, are you talking from experience? I find it hard to beleive that they are paying tax on money they are not earning?

[ukman]

you say you have seen the accounts .how much was the employers liabilty./public liabilty /performing rights /phonograpic rights /sky sports /.i bet they said you dont need any of them .this is cyprus.mathew please dont bother .save your money .

[matthew1981]

Thanks for the advice, how long have you been in Cyprus and where abous are you based?